Insurtech specialist Alicia raises growth capital
Alicia Insurance, which specializes in the development and embedded offering of insurance policies for the self-employed, is raising €7 million in growth capital in a seed investment round. Funding comes from several strategic partners, including Volta Ventures, Randstad Innovation Fund, and Achmea Innovation Fund. DC supports Alicia’s mission to combat insurance shortages for the self-employed and should accelerate the company’s European expansion.
Rotterdam-based Alicia, which was founded in 2019, believes that the growth in the number of self-employed or uninsured workers can be solved by developing good and suitable insurance policies for all self-employed. Insurtech offers tailor-made insurance products that are delivered in the customer journey on digital platforms used by freelancers, such as the Knab Bank app or the HeadFirst Group recruiter platform. So the most suitable insurance product is offered when the freelancer is on a banking application or when he accepts a job assignment.
Alicia is growing rapidly and has added 20 new partners to its technology platform in recent months. The collaboration with Roamler represents the delivery of a plug-and-play European collective insurance solution for work platforms. This is in line with the realization of Alicia’s international ambitions: in addition to the Netherlands, the insurance solution is also available in Belgium, France, Germany, Spain and the United Kingdom. Alicia will pass 100,000 independent insureds before the end of this year.
The Randstad Innovation Fund and Volta Ventures have already joined in 2021 as strategic investors and partners. HR service provider Randstad has done this based on its vision of ‘a well organized work’. Volta Ventures adds value through its know-how in scaling technology companies. The Achmea Innovation Fund will close its initial round in October 2022. The investment from the Achmea Innovation Fund is aligned with Achmea’s mission of solving social problems around the topics of health, livelihood, work, mobility and income.
In addition to capital growth and strategic added value, we were also looking for a personal connection and a shared vision for Alicia’s future. With the financing, Alicia will roll out embedded insurance solutions in various European countries in 2023, expand the product portfolio and continue to steadily develop our technology platform, which is the foundation of Alicia’s success,” says Marin Mormann, CEO and co-founder of Alicia. “People want to work differently. than they did 30 years ago. Self-employment is normal in 2022, but many freelancers are still uninsured because insurance is complex, often expensive, and difficult for them to obtain. We test that inline insurance makes insurance available. For a relatively low amount per hour, you can use freelance sustainably and we solve the social problem of uninsured freelancers. ”
“We are proud of this fine group of investors who, given the current investment climate, give us confidence in achieving our ambition: to have 1 million insured freelance workers by the end of next year,” Morman concluded.
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